Living with Chronic Obstructive Pulmonary Disease (COPD) is a daily struggle. Between doctor visits, medications, and managing your breathing, you already have a lot on your plate.
If you have COPD, you might also be worried about how your family will pay for your funeral. You may have heard that life insurance companies will not cover people with lung disease, or that the cost is too high.
The truth is, you can get burial insurance with COPD. While it is considered a high-risk condition by many insurance companies, there are specific final expense policies designed just for seniors with COPD. In this guide, we will explain your options and how to get the best coverage.
How Burial Insurance Works for COPD
Burial insurance (also known as final expense insurance) is a small whole life policy meant to cover your funeral, cremation, and any medical bills you leave behind.
When you apply for traditional life insurance, companies usually require a medical exam. If you have COPD, they will likely deny your application. Burial insurance is different. Most burial insurance policies are “simplified issue.” This means there is no medical exam required. You only have to answer a few health questions on the application.
When it comes to COPD, insurance companies will ask:
- Have you been diagnosed with COPD, emphysema, or chronic bronchitis?
- Do you use oxygen equipment to help you breathe?
If you answer “yes” to having COPD, most companies will offer you a graded or modified policy. A graded policy means your family will not receive the full payout if you pass away during the first two years. After two years, the policy pays the full amount.
If you want to see what you qualify for, call now to speak with a licensed agent: 1-866-332-1427.
What This Means for You
Having COPD means you will likely have a two-year waiting period before your policy pays out the full amount. This is why it is so important to apply for coverage as soon as possible. The sooner you start your policy, the sooner that two-year waiting period is over.
If you use oxygen to help you breathe, you will not qualify for a graded policy. Instead, you will need a guaranteed issue policy. With a guaranteed issue policy, there are no health questions at all. You cannot be turned down, even if you use oxygen 24/7. These policies also have a two-year waiting period.
Frequently Asked Questions (FAQ)
Will my rates go up because I have COPD?
Your monthly payment will be higher than someone without COPD, but once your policy is approved, your rate is locked in. Your monthly payment will never increase, and your policy cannot be canceled as long as you pay your premiums.
Do I have to take a medical exam?
No. Final expense and burial insurance policies do not require a medical exam. You only have to answer a few health questions.
What if I use an inhaler or nebulizer?
Using an inhaler or nebulizer for COPD is expected. As long as you do not use oxygen equipment, you can usually qualify for a graded policy with a two-year waiting period.
Protect Your Family Today
Do not let COPD stop you from protecting your family from a $10,000 funeral bill. You can get affordable burial insurance today, and you do not have to take a medical exam to do it.
If you want to see what you qualify for, call now to speak with a licensed agent: 1-866-332-1427.